Technology

Insight / ICAEW signs membership deal with AI specialist Inflo

ICAEW has announced a partnership with financial data analytics software company Inflo to give smaller accounting firms access to analytics dashboards and artificial intelligence (AI) tools

Insight / Xero sees 51% increase in UK accounting software business

Cloud accounting software specialist Xero has reported a 51% hike in both UK revenues and customers in the last six months, citing HMRC’s Making Tax Digital as a factor in its growth

Insight / Call for tougher action on ‘unacceptable’ financial services IT failures

MPs are demanding regulators take action to reduce the current level and frequency of IT failures in the financial services sector, which a Treasury select committee report has branded ‘unacceptable’

Insight / Using apps to manage your finances

Jonathan Amponsah CTA FCCA, founder of The Tax Guys, takes a look at a selection of apps to help manage business finances, keep track of accounts and maximise productivity

Insight / AI automation: your new favourite co-worker

If partial automation has not yet arrived in the accounts payable department of your organisation, it will not be long before it does, says Magali Michel, director at Yooz

Insight / How AI and machine learning can benefit finance teams

Debbie Green, vice president of applications at Oracle UK, analyses how the latest technologies can be best utilised for accountants and provides advice on how companies can benefit from artificial intelligence (AI) and machine learning

Insight / KPMG launches Manchester technology innovation hub

KPMG has taken on extra office space in Manchester to extend its national technology innovation hub, bringing the total number of staff employed in the city to over 1,000

Accounting / University launches app to ‘translate’ annual report information

A team of academics at Lancaster University has developed an app to help investors and regulators make sense of hard-to-understand financial reports, after finding that while annual reports have doubled in length in the last decade, there has been no improvement in their readability score

Insight / KPMG invests in software engineering degree apprenticeship

KPMG plans to expand its software engineering degree apprenticeship, quadrupling the number of applicants, as the firm embarks on a drive to train more engineers to support its technology team

Tax / Half of small businesses make VAT return errors

Half of small businesses say they have made mistakes when sending in their VAT return and only a quarter are confident they have the figures correct despite spending more than an hour checking

Insight / Facebook to pay $5bn over data privacy lapses

Facebook is to pay a record-breaking $5bn (£4bn) penalty to settle Federal Trade Commission (FTC) charges that the company deceived users about their ability to control the privacy of their personal information

Insight / G7 finance ministers flag cryptocurrency risk

The meeting of G7 finance ministers has warned of the risk of cryptocurrencies destabilising the global economy and undermining fiat currencies

Insight / Global fraud costs balloon to £3.89 trillion

Fraud is costing businesses and individuals in the UK £130bn each year, while the cost to the global economy is put at £3.89 trillion, with losses rising by 56% in the past decade

Insight / O'Connor: using fintech to increase practice profitability

Advances in fintech could transform the accounting profession if firms leverage the technology to help growth their practices and offer extended services to their smaller clients, explains Sam O’Connor ACA, co-founder & CEO of smart banking app Coconut

Insight / UK regulator hits Marriott with £99m data breach fine

The Information Commissioner's Office (ICO) plans to fine hotel chain Marriott International £99m for general data protection regulation (GDPR) infringements, just days after a record-breaking £183m fine for British Airways over a privacy breach
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